DAX Makes 6-Week Highs

DAX index trading 0.36% higher at 12,235 as investors concerns around no-deal Brexit ease and US and China trade negotiators have agreed to restart talks in early October. Germany Trade Balance s.a. came in at €20.2B beating expectations of €17.5B in July. Germany Exports (month over month) came in at 0.7% above expectations of -0.5% in July, the Imports (month over month) came in at -1.5%, below forecasts -0.3% in July. Germany Current Account n.s.a. came in at €22.1B in July from previous €20.6B. European Monetary Union Sentix Investor Confidence came in at -11.1 topping expectations of -14 in September.

DAX index getting a hand by Volkswagen +2.57, Continental +2.11%, Daimler +1.73% and Covestro +1.35%. On the other hand Thyssekrupp is -1.80%, Vonovia -1.22%, Beiersdorf -0.66% and RWE -1.08%.

DAX makes fresh six week highs, as the price hovers above all majot daily moving averages. Bulls are in control after the index pierced above the triangle formation. On the upside, immediate resistance stands at 12,245 today’s high and then at 12,400 the high from July 30. Immediate support for the DAX index stands at 12,189 today’s low and then at 12,062 the day moving average, while extra bids will emerge at 11,852 the low from August 30, while.

In London the FTSE 100 gives up 0.47% at 7,247, while CAC 40 is 0.04% lower at 5,601. In Wall Street, Dow Jones futures is 0.20 percent higher at 26,858 while the S&P is 0.23 percent higher at 2,988 while Nasdaq is 0.22% higher at 7,875.

Don’t miss a beat! Follow us on Telegram and Twitter.

Download our latest quarterly market outlook for our longer-term trade ideas.

Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.

DAX Makes 6-Week Highs
DAX Makes 6-Week Highs
Share